Market Sentiment Turns Bearish as GMT Contract Shows 54.52% Short Positions

According to recent data from Binance, as of December 28 at 11:00, the long/short ratio for the GMT contract stands at 0.83. This figure reflects a notable bearish market sentiment, with short positions comprising 54.52% compared to long positions at 45.48%. This shift in sentiment may signal potential caution among investors. Additionally, the contract’s activity revealed significant trading volumes over the past 24 hours, with approximately 4.884 billion GMT actively sold and 5.091 billion GMT actively purchased. These metrics highlight a robust trading environment as participants navigate current crypto market trends. Investors are advised to monitor these dynamics closely as they indicate prevailing market psychology and could influence future price movements.